Sam Bankman-Fried, the CEO of FTX crypto exchange has said that Solana appears to be a better option than BTC to be taken up as a payment alternative. He believes that Proof-of-Stake (PoS) mining that allows millions of transactions each second, at cheaper costs. BTC’s Proof-of-Work mining model however, makes it an expensive choice, also detrimental to the environ…

Cryptocurrencies resumed their slide on Monday, with Bitcoin falling down around $29,700 (roughly Rs. 23 lakh)  on Monday in Asian trade. Ether, the second-largest cryptocurrency, fell 5.6 to around $2,000 (roughly Rs. 1.5 lakh) on Monday.

Nigeria’s markets regulator has published a set of regulations for digital assets in an effort to find a middle ground between an outright ban on crypto assets and their unregulated use. Nigeria’s Securities and Exchange Commission (SEC) published the “New Rules on Issuance, Offering Platforms and Custody of Digital Assets” on its website.

Chainalysis, a blockchain analytics firm, has released a new report focusing on illicit activity on blockchains, noting that DeFi protocols are a popular target for hackers and that money laundering in the sector has increased in the last two years.

Luna’s value has fallen drastically since last month. It wasn’t only victim in a week where cryptocurrencies were down 30 percent. Some have recovered to a certain extent, but this still represents an aggregate seven-day loss of over $500 million (around Rs. 3,890 crore), prompting existential questions about the future of the market.

British bank Barclays has joined Goldman Sachs in investing in British billionaire Alan Howard’s crypto trading platform, Elwood Technologies. Down Capital as well as venture units of Commerzbank AG and billionaire Michael Novogratz Galaxy Digital Holdings Ltd, a crypto merchant bank, emerged as other investors who participated in the funding round.

It took just seven days for the Terra (LUNA) ecosystem to spiral down as prices came crashing from $85 (roughly Rs. 6,570) on May 5 to nearly $0 on May 12. As the market slowly gained clarity on what transpired, the trading volume of LUNA saw a steep recovery of over 200% over the weekend.

Cryptocurrencies can lead to dollarisation of a part of the economy which would be against India’s sovereign interest, top officials of the RBI are said to have warned to a parliamentary panel. Briefing the Parliamentary Standing Committee on Finance, top officials of the RBI pointed out that cryptocurrencies have the potential to be a medium of exchange and replace…

BTC and ETH showed growth on both, national as well as international exchanges as the crypto market progresses with recovery. While Terra continued to be lowest on the price charts, the MANA token of Decentraland also observed losses. The overall crypto market cap has grown to $1.30 trillion (roughly Rs. 10,133,150 crore) from what it was last week, $1.17 trillion (ro…

Foreign crypto space is seeing a shortage of Indian faces because of the confusion of what’s allowed and what’s not allowed for crypto players in the nation. Talking to Gadgets 360, Unocoin chief Sathvik Viskwakarma said that the Indian crypto community will shine on the global map only after industry players get a nurturing backing from the government of India.